Stock Groups

Bottomline Technologies Rises 15% As Analysts React To Reports of Potential Sale -Breaking

by Mike Robinson

[ad_1]

© Reuters.

Sam Boughedda

Investing.com — Bottomline Technologies Inc (NASDAQ) shares rose Friday after a Bloomberg report that the company was in talks with Deutsche Bank about a possible sale.

Bloomberg cited sources who were familiar with the situation and said that Bottomline was considering options. Private equity firms are interested in the company, the sector, in particular. 

Overall shares rose 15.15% to $51.47. 

Craig-Hallum Investments upgraded the stock to buy, from hold, and increased its price target by $60 to $50. An analyst George Sutton stated in an investor note that the company’s assets could be used to “catalyze great outcomes with the stock.”

He explained that while we were disappointed with declining bookings, and a loss of competition in digital AP payments markets, “we aren’t naive about the possible valuations that might be paid.” 

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses caused by the data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]